India's Mangalore Refinery and Petrochemicals Ltd. (MRPL) has become the first Indian refinery to instruct crude suppliers to avoid both the Strait of Hormuz and the Red Sea. This restriction was included in a spot tender for up to 1 million barrels of crude, with delivery sought between August 25 and September 6. The move signals growing concerns over shipping security in these critical waterways. This development could potentially contribute to higher crude oil prices, which might indirectly impact Pakistan's import bill and inflation, influencing USD/PKR rates.
بحوالہ / Source: oilprice.com